The New Straits Times

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from January 01, 2004
Last Document: October 24, 2014

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The New Straits Times, October 24, 2014

News

Hsr Underscores More Prospects for Rail Jobs

THE Kuala Lumpur-Singapore high speed rail (HSR) project underscores more prospects for rail-related jobs following news that the MRT2 and LRT3 projects will likely commence next year as per 2015 Budget, said AmResearch Sdn Bhd. This came after a news report said the seven proposed stops for the Kuala Lumpur-Singapore HSR project had been confirmed. They are Kuala Lumpur, Putrajaya, Seremban (Negri Sembilan), Ayer Keroh (Malacca) and Muar, Batu Pahat and Nusajaya in Johor.

Amresearch Maintains 'Buy' Call On Wct

AMRESEARCH Sdn Bhd has maintained "buy" call on WCT Holdings Bhd, following its purchase of 89.4ha of freehold land in Serendah, Selangor, for RM115 million. This works out to RM12 per sq ft, or about six times the RM2 per sq ft price that the group had paid for a larger plot in Serendah in 2011.

'Current Weakness an Opportunity to Accumulate'

THE local bourse's current weakness, bogged down by foreign selling, is an opportunity to accumulate, said Maybank Investment Bank Bhd (Maybank IB). Year-to-date (YTD), the cumulative foreign net sell in Bursa Malaysia is RM3.74 billion, surpassing net buy of RM2.4 billion last year.

Eye-Catching Play of Ideas

KUALA LUMPUR: AN ICONIC structure includes a design that is "ground breaking" and sets new standards in its field. Such a design also stands the test of time and is admired for generations. An example is the Chrysler Building, an Art Deco-style skyscraper in New York City. At 319 metres, the structure was the world's tallest building for 11 months before it was surpassed by the Empire State Building in 1931. It is still the tallest brick building in the world, albeit with an internal steel sk...

Kuala Lumpur to Host 'Ip Makes $Ense' Forum On November 6

KUALA LUMPUR: Kuala Lumpur will play host to intellectual property (IP) experts from the United Kingdom, India and Malaysia during the "IP Makes $ense" forum on November 6. The one-day event will be held at the Intellectual Property Corp of Malaysia (MyIPO) auditorium at Wisma UOA, Jalan Bangsar Utama.

Homedec 2014 Plans to Rake in Sales of Rm150m

KUALA LUMPUR: Home Decor and Design Exhibition (Homedec) aims to rake in RM150 million in sales over the two-part exhibition, which is expected to draw over 150,000 visitors. C.I.S Network Sdn Bhd president Datuk Vincent Lim the organiser of Homedec 2014 said the targeted sales is higher than last year's RM140 million sales.

16.1m Tourist Arrivals in H1

KUALA LUMPUR: MALAYSIA welcomed 16.1 million tourists for the first half of the year, an increase of 9.7 per cent from 14.7 million tourists for the same period last year. The top 10 tourist generating markets to Malaysia from January to July 2014 was Singapore, Indonesia, China, Brunei, Thailand, India, Australia, Philippines, Japan and Taiwan.

Bank Rakyat Q2 Net Profit Up 5.13pc

KUALA LUMPUR: BANK Rakyat posted a net profit of RM961.91 million in the second quarter ended June 20 2014, an increase of RM46.94 million, or 5.13 per cent, from RM914.97 million a year ago. Its pre-tax profit rose 0.22 per cent to RM1.11 billion, Bank Rakyat said in a statement yesterday.

Windfall of Rm1b for Kulim Shareholders

KUALA LUMPUR: Kulim (Malaysia) Bhd will return to its shareholders RM1 billion, or 78 sen per share, from the sale of its 48.97 per cent stake in New Britain Palm Oil Ltd (NBPOL) to Sime Darby Bhd for STG525.4 million (RM2.75 billion). The RM1 billion will be paid back over two years after the disposal, it added.

Public Bank Earnings Momentum to Continue

KUALA LUMPUR: Public Bank Bhd is expected to maintain its earnings momentum for the rest of the year after posting a double- digit growth in its third quarter ended September 30. Its net profit for the quarter rose 13.8 per cent year-on-year to RM1.19 billion from RM1.05 billion previously, while revenue grew 11.7 per cent to RM4.32 billion from RM3.87 billion.

Full Control

KUALA LUMPUR: MALAYSIA Airports Holdings Bhd (MAHB) will gain full control of Sabiha Gokcen International Airport (Sabiha Airport) after deciding to exercise its right to buy the remaining 40 per cent stake it does not own in the Turkish airport for nearly RM1.2 billion. MAHB yesterday said it will "shortly" sign a share purchase agreement to buy Turkish firm Limak Group's 40 per cent interest in Istanbul Sabiha Gokcen International Airport Investment Development and Operation Inc (ISG) and L...

Carimin Unfazed by Falling Crude Oil Prices

PUTRAJAYA: Carimin Petroleum Bhd, which is en route to a November 10 listing, has described the falling crude oil prices as a short- term correction. Its managing director Mohktar Hashim said he was not concerned about the trend as what mattered was Carimin's fundamentals, adding that he believed it was the right time for Carimin to float its shares on Bursa Malaysia.

Rm2.3b for R&D Innovations

PUTRAJAYA: The government has set aside RM2.3 billion for research and development (R&D) to bring innovations to a higher level, said Prime Minister Datuk Seri Najib Razak. The allocation, earmarked for the next two years, will help research institutions to undertake projects from the R&D stage up to the commercialisation phase.

Rhbam Targets Rm50b in Aum

KUALA LUMPUR: RHB Asset Management Sdn Bhd (RHBAM), a unit of RHB Investment Bhd, is targeting to raise RM50 billion in assets under management (AUM) by year-end. Its current AUM is RM48 billion.

Cimb-Rhbcap-Mbsb Merger Likely to Go Ahead

KUALA LUMPUR: MAYBANK Investment Bank Research expects CIMB Group Bhd, RHB Capital Bhd (RHBCap) and Malaysia Building Society Bhd (MBSB) to push ahead with the merger despite their common shareholder, the Employees Provident Fund (EPF), was denied its voting right in the exercise. The research house sees Bursa Malaysia's "no" for the EPF to vote on the CIMB-RHBCap-MBSB merger as a temporary setback.

Rhb Favours Tas Offshore for Its Healthy Order Book

RHB Research has lowered TAS Offshore Bhd's net profit forecast for the financial year ending 2016 by five to 11 per cent by assuming lower margins. However, the research firm has kept its "buy" call on TAS Offshore, with a target price of RM1.42, as it favours the group for its growing demand for offshore support vessels in the oil and gas sector, coupled with a healthy order book.

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